NuVasive (NUVA) Price Target Cut to $73.00 by Analysts at Morgan Stanley

NuVasive (NASDAQ:NUVA) had its price objective reduced by Morgan Stanley from $77.00 to $73.00 in a research note published on Wednesday. They currently have a hold rating on the medical device company’s stock.

Several other equities analysts have also recently weighed in on NUVA. BidaskClub cut NuVasive from a buy rating to a hold rating in a report on Friday, August 10th. Needham & Company LLC reissued a buy rating and issued a $75.00 target price (down previously from $80.00) on shares of NuVasive in a research report on Wednesday. Canaccord Genuity dropped their target price on NuVasive from $80.00 to $75.00 and set a buy rating on the stock in a research report on Wednesday. BTIG Research lifted their target price on NuVasive to $72.00 and gave the company a buy rating in a research report on Thursday, August 16th. Finally, Cantor Fitzgerald reissued a hold rating and issued a $58.00 target price on shares of NuVasive in a research report on Friday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. NuVasive presently has an average rating of Hold and an average target price of $67.63.

Shares of NASDAQ:NUVA traded down $0.76 during trading on Wednesday, hitting $56.50. 882,827 shares of the company’s stock traded hands, compared to its average volume of 860,933. NuVasive has a 52 week low of $44.62 and a 52 week high of $72.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.45 and a quick ratio of 1.53. The stock has a market capitalization of $2.91 billion, a PE ratio of 27.03, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The business had revenue of $271.30 million for the quarter, compared to the consensus estimate of $265.70 million. During the same quarter last year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts expect that NuVasive will post 2.18 earnings per share for the current year.

A number of institutional investors have recently made changes to their positions in NUVA. Strs Ohio increased its position in shares of NuVasive by 45.5% during the 2nd quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock worth $166,000 after purchasing an additional 1,000 shares during the last quarter. Sun Life Financial INC acquired a new position in shares of NuVasive during the 2nd quarter worth approximately $201,000. Cubist Systematic Strategies LLC acquired a new position in shares of NuVasive during the 2nd quarter worth approximately $221,000. Zions Bancorporation acquired a new position in shares of NuVasive during the 3rd quarter worth approximately $225,000. Finally, Hartford Investment Management Co. acquired a new position in shares of NuVasive during the 2nd quarter worth approximately $245,000.

NuVasive Company Profile

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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